$BTC - Triangle Was Finally Broken!

10 Okt 2019

As we wrote in the previous update: "However, it is very important to understand, that in case of the triangle breakout, the whole bearish scenario will be cancelled.". Now the price takes hold above the $8565 level which means that the price is currently staying above the horizontal channel upper border.

Moreover, there is a convergence on RSI - bullish sign as well. Targets for upward movement can be noticed on the Fib. Retracement, $8800 - $8870 - $8965. We still hold our LONG position since $8200.

By the way, if the price come back inside the channel (below the $8500),then we should expect a downward correction to the $8245 level, at least. So, if you don't hold any position, now you know where to put SL :)

10 Okt 2019

Nota

literally a few minutes ago there was activated a new support level, it is located at the $8430 point. This support can help bulls to keep the price from falling, in case the level $8565 will be broken.